Chatroom - Hong Kong Exchanges and Clearing Limited

HKEx’s Derivatives Market Gets Sustained Equal Support from
Exchange Participants and Investors
Figure 9 Implied contract volume of derivatives by investor type (2001/02 – 2010/11)
Million contracts
Year-on-year % change
Type of trade 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11
EP principal trading -25.82% 22.24% 48.70% 6.19% 128.14% 91.57% 105.85% -15.57% -8.30% 29.52%
– Market maker n.a. n.a. 46.72% 5.64% 141.11% 95.95% 128.95% -20.73% -12.30% 36.80%
– Proprietary trading n.a. n.a. 53.01% 7.34% 101.51% 80.79% 44.34% 6.24% 4.31% 10.22%
Local investor trading -2.14% 8.71% 45.13% 4.10% 39.07% 34.75% 61.63% 20.05% -2.47% 31.36%
– Retail -7.66% 21.86% 45.29% -0.29% 42.66% 38.21% 76.70% 15.52% -4.12% 27.35%
– Institutional 11.21% -17.72% 44.65% 17.25% 29.95% 25.07% 15.11% 41.53% 3.91% 45.67%
Overseas investor trading 39.52% 44.77% 35.72% 39.27% 38.84% 48.65% 65.84% 14.77% 6.96% 18.98%
– Retail 272.57% -40.70% 108.07% 28.55% 52.10% 39.87% 88.65% 56.14% 6.22% -8.93%
– Institutional 24.89% 60.77% 30.72% 40.45% 37.51% 49.63% 63.47% 9.81% 7.08% 23.70%
Total -7.11% 21.11% 44.10% 13.12% 70.56% 64.93% 86.86% -2.54% -3.45% 27.41%
n.a.: Not available
Figure 10 Implied contract volume of overseas investor trading in derivatives by origin
(2001/02 – 2010/11)
Million contracts
Year-on-year % change
Overseas origin 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11
US 66.71% 23.07% 36.93% 39.59% -1.90% 110.60% 65.43% -15.50% 41.19% 6.61%
UK & Europe -7.36% 70.40% 27.16% 102.25% 37.97% 18.51% 67.89% 9.63% 5.85% 22.53%
– UK -1.98% 19.16% 56.08% 30.41% 87.33% 39.52% 71.41% 5.88% -7.22% 15.46%
– Europe (excluding the UK) -28.37% 344.19% -14.31% 289.83% -5.14% -17.75% 57.59% 21.58% 42.07% 35.31%
Asia 151.04% 30.85% 49.24% -30.29% 75.63% 41.01% 62.07% 43.19% 31.25% 29.93%
– Japan -46.30% 118.01% 23.79% 55.52% -19.06% 29.61% 43.49% 83.44% 7.39% 4.70%
– Mainland China 145.28% 26.99% 91.35% 5.85% -15.33% 100.38% 96.75% 21.18% 26.16% 2.51%
– Taiwan 1,722.09% -69.92% 20.05% -70.04% 230.00% 109.66% 36.92% 88.74% -20.30% -1.99%
– Singapore* – – 56.14% -60.61% 196.62% 9.19% 34.00% 78.66% 45.59% 56.02%
– Rest of Asia* 155.25% -71.17% -42.14% 10.37% 88.40% 8.39% 38.24% -39.84% 40.38% 109.41%
Australia † – – – – – – – 45.21% -71.05% -61.50%
Others † -27.60% 123.90% 15.46% 50.24% 133.24% 116.73% -75.08% 75.32% -42.30% 107.40%
Total 39.52% 44.77% 35.72% 39.27% 38.84% 48.65% 65.84% 14.77% 6.96% 18.98%
– : Not applicable
* For surveys before 2002/03, Singapore was included in “Rest of Asia”.
† For surveys before 2007/08, Australia was included in “Others”.
38 Exchange • January 2012